Valero Energy Partners LP (VLP) Sees Unusually-High Trading Volume
Shares of Valero Energy Partners LP (NYSE:VLP) saw strong trading volume on Monday . 158,772 shares changed hands during trading, an increase of 33% from the previous session’s volume of 119,117 shares.The stock last traded at $42.05 and had previously closed at $41.84.
Several research analysts have issued reports on the stock. Barclays PLC lowered their price target on shares of Valero Energy Partners from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 8th. Credit Suisse Group AG upgraded shares of Valero Energy Partners from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from $60.00 to $55.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Morgan Stanley restated a “buy” rating and set a $58.00 price target on shares of Valero Energy Partners in a report on Friday, August 5th. Mitsubishi UFJ Financial Group upgraded shares of Valero Energy Partners from a “neutral” rating to an “overweight” rating in a report on Friday, July 22nd. Finally, TheStreet lowered shares of Valero Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.80.
The firm has a market capitalization of $2.73 billion and a price-to-earnings ratio of 16.79. The stock’s 50 day moving average is $43.30 and its 200-day moving average is $45.42.
Valero Energy Partners (NYSE:VLP) last issued its earnings results on Thursday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The firm earned $88 million during the quarter, compared to analysts’ expectations of $85.21 million. During the same period in the prior year, the company earned $0.54 EPS. The firm’s quarterly revenue was up 45.7% compared to the same quarter last year. On average, analysts forecast that Valero Energy Partners LP will post $2.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Monday, August 1st were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 3.49%. This is a boost from Valero Energy Partners’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, July 28th.
An institutional investor recently raised its position in Valero Energy Partners stock. Morgan Stanley increased its position in shares of Valero Energy Partners LP (NYSE:VLP) by 71.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 676,107 shares of the company’s stock after buying an additional 282,894 shares during the period. Morgan Stanley owned approximately 1.11% of Valero Energy Partners worth $34,895,000 at the end of the most recent reporting period.
Valero Energy Partners LP owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company’s assets include crude oil and refined petroleum products pipeline and terminal systems in the United States Gulf Coast and the United States Mid-Continent regions that are integral to the operations of the following Valero Energy Corporation (Valero) refineries, such as Port Arthur Refinery-Port Arthur, Texas; McKee Refinery-Sunray, Texas; Three Rivers Refinery-Three Rivers, Texas; Memphis Refinery-Memphis, Tennessee; Ardmore Refinery-Ardmore, Oklahoma; St.
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